Chemi Co. produces chemicals Koo and Lam and incident to their production recovers a by- product, Boo. The joint...

 

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Chemi Co. produces chemicals Koo and Lam and incident to their production recovers a by- product, Boo. The joint costs of processing is reduced by the net realizable value of Boo. For the month of May 2021, the joint costs of processing amount to P3,840,000. Additional information are shown below: * (2 Points) Product Koo Lam Воо Production 2,000,000 3,000,000 1,000,000 Market Value P3,000,000 2,000,000 420,000 An additional P180,000 was spent to complete the processing of Boo. Assuming that the company uses the net realizable value method for allocating joint costs, the joint costs allocated to Koo would be Alphabet Company manufactures Products A and B from a joint process that also yields a by- product, X. Alphabet accounts for the revenues from its by-product sales as a deduction from the cost of goods sold of its main products. Additional information is as follows: * (2 Points) A 15,000 Units produced Joint costs.. B 9,000 X 6,000 Total 30,000 264,000 Market value at split-off ..... 290,000 150,000 10,000 450,000 Assuming that joint product costs are allocated using the market value at the split-off approach, the joint cost allocated to Product B would be:

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